Common use of Release of Subsidiary Guarantor Clause in Contracts

Release of Subsidiary Guarantor. A Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon the sale of all of its Capital Stock, or all or substantially all of the assets of the applicable Subsidiary Guarantor, to any Person that is not a Subsidiary of the Company, if such sale is made in compliance with this Indenture.

Appears in 2 contracts

Samples: Indenture (MSX International Business Services Inc), Indenture (Oxford Automotive Inc)

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Release of Subsidiary Guarantor. A Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon Upon the sale or other disposition (including by way of consolidation or merger) of all of its the Capital Stock, or the sale or disposition of all or substantially all the assets, of a Subsidiary Guarantor (in each case other than to the Company or an Affiliate of the assets Company) permitted by this Indenture, such Subsidiary Guarantor shall be deemed released from all obligations under this Article 11 without any further action required on the part of the applicable Subsidiary Guarantor, to Trustee or any Person that is not a Subsidiary Holder. At the request of the Company, if the Trustee shall execute and deliver an appropriate instrument evidencing such sale is made in compliance with this Indenturerelease.

Appears in 1 contract

Samples: Indenture (Mediq Inc)

Release of Subsidiary Guarantor. A Upon the sale or other disposition (including by way of consolidation or merger) of a Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon or the sale or disposition of all of its Capital Stock, or all or substantially all of the assets of such Subsidiary Guarantor (in each case other than to the applicable Company or an Affiliate of the Company), such Subsidiary Guarantor, to Guarantor shall be deemed released from all obligations under this Article 11 without any Person that is not a Subsidiary further action required on the part of the Trustee or any Holder. At the request of the Company, if the Trustee shall execute and deliver an appropriate instrument evidencing such sale is made in compliance with this Indenturerelease.

Appears in 1 contract

Samples: Indenture (King Pharmaceuticals Inc)

Release of Subsidiary Guarantor. A Upon the sale or other disposition (including by way of consolidation or merger) of a Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon or the sale or disposition of all of its Capital Stock, or all or substantially all of the assets of such Subsidiary Guarantor (in each case other than to the applicable Company or an Affiliate of the Company), such Subsidiary Guarantor, to Guarantor shall be deemed released and relieved from all obligations under this Article 10 without any Person that is not a Subsidiary further action required on the part of the Trustee or any Holder. At the request and expense of the Company, if the Trustee shall execute and deliver an appropriate instrument evidencing such sale is made in compliance with this Indenturerelease.

Appears in 1 contract

Samples: Indenture (Superior Energy Services Inc)

Release of Subsidiary Guarantor. A Upon the sale (including any sale pursuant to any exercise of remedies by a holder of Senior Indebtedness) or other disposition (including by way of consolidation or merger or otherwise) of a Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon or the sale or disposition of all of its Capital Stock, or all or substantially all of the assets of such Subsidiary Guarantor (in each case other than to the applicable Company or an Affiliate of the Company and whether or not an Affiliate of the Subsidiary Guarantor, to any Person that is not a Subsidiary of the Company, if such sale is made ) in compliance with this Indenture.Indenture (including the provisions of Section 4.07), such Subsidiary Guarantor shall be deemed released from all

Appears in 1 contract

Samples: Indenture (Rutherford-Moran Oil Corp)

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Release of Subsidiary Guarantor. A Subsidiary Guarantor may, by execution and delivery to the Trustee Lender of a supplemental indenture supplement to this Agreement satisfactory to the TrusteeLender, be released from its Guarantee upon the sale of all of its Capital Stock, or all or substantially all of the assets of the applicable Subsidiary Guarantor, to any Person that is not a Subsidiary of the Company, if such sale is made in compliance with this IndentureAgreement.

Appears in 1 contract

Samples: Third Secured Term Loan Agreement (MSX International Inc)

Release of Subsidiary Guarantor. A Upon the sale or other disposition (including by way of consolidation or merger) of a Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon or the sale or disposition of all of its Capital Stock, or all or substantially all of the assets of such Subsidiary Guarantor (in each case other than to the applicable Company or an Affiliate of the Company), such Subsidiary Guarantor, to Guarantor shall be deemed released from all Obligations under this Article 12 without any Person that is not a Subsidiary further action required on the part of the Trustee or any Holder. At the request of the Company, if the Trustee shall execute and deliver an appropriate instrument evidencing such sale is made in compliance with this Indenturerelease.

Appears in 1 contract

Samples: Indenture (King Pharmaceuticals Inc)

Release of Subsidiary Guarantor. A Subsidiary Guarantor may, by execution and delivery to the Trustee of a supplemental indenture satisfactory to the Trustee, be released from its Guarantee upon the sale of all of its Capital Stock, or all or substantially all of the assets of the applicable Subsidiary Guarantor, to any Person that is not a Subsidiary of the Company, if such sale is made in compliance with this Indenture.. 102

Appears in 1 contract

Samples: Indenture (BMG North America LTD)

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